Switzerland 'freezes $300 mn of Mubarak sons' assets'

A combo taken off Egyptian state TV shows ousted Egyptian president Hosni Mubarak's sons Gamal (left) and Alaa listening to the verdict in their father's trial at a court in Cairo on June 2, 2012. Swiss authorities have frozen $300 million (227 million euros) sitting in Credit Suisse accounts in Geneva held by the sons of deposed Egyptian president Hosni Mubarak, according to a Swiss newspaper

Swiss authorities have frozen 300 million dollars (227 million euros) sitting in Credit Suisse accounts in Geneva held by the sons of deposed Egyptian president Hosni Mubarak, the newspaper Le Matin Dimanche reported on Sunday.

The funds are held in accounts belonging to Alaa and Gamal Mubarak, sons of the ex-president who are currently being held in an Egyptian prison.

The brothers are accused of using their position as scions of Egypt's long-time ruler to help themselves to villas, luxury cars and stakes in the country's key companies.

According to the newspaper, the funds were deposited at the Credit Suisse in 2005, which was after Switzerland tightened rules governing transactions by politically exposed depositors.